The 2 bedroom fair market rent in Wheaton (Traverse County) is $970 for FY2026. Rents here moved +4.3 percent year over year. ZIP 56296 sits in the Traverse County, MN area.
| Unit size | FY2026 FMR | Vs FY2025 | ACS median |
|---|---|---|---|
| Studio | $670 | +4.7% | |
| 1 bedroom | $740 | +4.2% | |
| 2 bedroom | $970 | +4.3% | |
| 3 bedroom | $1,350 | +3.1% | |
| 4 bedroom | $1,610 | +8.1% |
FMR is the HUD Fair Market Rent for this ZIP, the 40th percentile of gross rents. It anchors Section 8 payment standards and runs below top of market. ACS median is the Census survey estimate where available.
The HUD fair market rent for a 2 bedroom in ZIP 56296 is $970 for FY2026. Actual rents vary by unit size, condition, and location within the ZIP.
The 2 bedroom fair market rent rose 4.3 percent from FY2025 to FY2026, moving from $930 to $970.
Fair Market Rent is HUD's estimate of the 40th percentile gross rent for a ZIP. It sets Section 8 payment standards, so it is the rent a voucher will support here. Investors use it as a conservative floor when underwriting rental income.
Rent level is only one input. Run the numbers: at $970 for a 2 bedroom, a deal in Wheaton pencils or it does not based on price, taxes, insurance, and financing. Pencilwrite computes cap rate, cash-on-cash, DSCR, and true ROE from a few inputs.
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